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Custom Studies
Name: MAPullback
Identifies those bars that meet the moving average pullback criteria, invented by Steve Palmquist and described in TASC magazine (April, 2005).


RisingCloses := false;
NotBelowPullbackMA := false;
CloseToPullbackMA := false;

{ is in an uptrend }
RisingCloses := Lowest(Close, 5) > Close\20\;
{ verify stock has not been below the 30ma in last 30 trading sessions }
NotBelowPullbackMA := CountIf( Close < SMA(Close, 30), 30) < 1;
{ look if the stock pulled back to within 1.5% of the 30ma }
CloseToPullbackMA := Close - SMA(Close, 30) < 0.015 * Close;
{ MA pullback setup if uptrend and hasn't been below the 30ma but it has pulled back to within 1.5% of the 30ma }
return RisingCloses and NotBelowPullbackMA and CloseToPullbackMA;

Download to import into Tradecision.

How to use this custom study in Tradecision:
  1. Click Download.
  2. Save this study in a safe location on your hard drive.
  3. Open Tradecision and in the Tools menu click the Study Builder.
  4. In the Study Builder dialog, click Import, locate the saved file and then click OK. Now you can insert the study directly into a price chart or modify it like any other study.
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